OCR Text |
Show -3- the corporation, and without regard to the location within said district of the land upon which any of such stock is located, and regardless of whether or not water is distributed or delivered by gravity flow or by pumping, and said water shall be distributed and sold upon and to only such of said lands upon which stock of the corporation shall have been located; provided, always, that such stock shall be located only upon land owned by, or the ownership of which is claimed by the person desiring to purchase said stock; and, provided, also, that when stock of the corporation is located upon a tract of land, one share shall be issued and so located for each acre thereof, and in no case shall there be issued less than ten shares; to purchase, lease, and otherwise acquire, and to hold, use and own, hypothecate and mortgage all such real and personal property as may be necessary or convenient for carrying out or conducting the business or purposes of said corporation; to borrow money and give such securities for the repayment of the same as may be necessary or convenient for the profitable management of the business of said Corporation; to issue stock of the Corporation and sell the same, or to authorize the sale of the same and the application of the proceeds thereof to any of the legitimate purposes of this corporation, including the purchase of water, water rights and irrigation systems, and the construction of canals, aqueducts, ditches, flumes and other water works; to purchase, or otherwise acquire, and to have, own, hold, use, and to build, construct and maintain dams, levees and dykes for the reclamation of land subject to overflow of water; To do any and all other acts and things necessary, desirable, or convenient, in or in connection with the maintaining, operating, or carrying on of any and all of the business of the corporation |
Source |
Original book: [State of Arizona, complainant v. State of California, Palo Verde Irrigation District, Coachella Valley County Water District, Metropolitan Water District of Southern California, City of Los Angeles, California, City of San Diego, California, and County of San Diego, California, defendants, United States of America, State of Nevada, State of New Mexico, State of Utah, interveners] : California exhibits. |